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Stocks dip on year-end profit taking.
(From BusinessWorld (Philippines))
Byline: Anna Barbara L. Lorenzo
The stock market barely moved yesterday even as some investors started taking profits from yields in the so-called Santa Claus rally.
The benchmark Philippine Stock Exchange composite index (Phisix), the 30-company key share indicator, dipped 1.21 points, or 0.09%, to 1421.03.
The broader All Shares index likewise sagged 1.20 points, or 0.14%, to 851.50.
"The local equities market moved sideways with a downward bias (yesterday). Locally, there weren't much window-dressing activities as the yearly activity appears to be winding down. The negative bias was brought about by profit taking on some of the major winners for the …
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